STAPLES PURCHASE & SALE OF REAL PROPERTY

Anything contained in this Section 4.3 to the contrary notwithstanding, any monetary encumbrances affecting title to the Property caused by Seller or its Authorized Representatives (other than a lien for current real property taxes and assessments not then delinquent), shall be discharged by Seller on or before Close of Escrow, and need not be formally disapproved by Buyer and shall not be considered a Permitted Exception or a New Encumbrance. The Outside Closing Date shall be extended, if necessary, for a period of time equal to period of time the parties have to satisfy the provisions of this Section 4.3 plus fifteen (15) days. 4.4 Title Policy. At Close of Escrow, Escrow Holder shall issue to Buyer, at Buyer's election in its sole discretion, an ALTA Owner's Extended Policy Form B (1970) (or a Form B (1990) if Escrow Holder will not issue a Form B (1970))of Title Insurance ("Buyer's Title Policy") insuring fee title to the Property vested in Buyer with liability equal to the Purchase Price, subject only to the Permitted Exceptions. At least three (3) business days prior to the date of Close of Escrow, Escrow Holder shall furnish both Seller and Buyer with a pro forma of Buyer's Title Policy substantially as Escrow Holder is prepared to bind itself to issue as Buyer's Title Policy (subject to events occurring after the date of time of such pro forma and prior to Close of Escrow). 5. "AS IS" PHYSICAL CONDITION OF THE PROPERTY. 5.1 "As Is" Condition. Buyer acknowledges and agrees that the Property is to be sold and conveyed to and accepted by Buyer in an"as is" "where is" condition with all faults including the presence of any Hazardous Substances located on or about the Property. Seller does not make any representations or warranties of any kind whatsoever, either express or implied,with respect to the Property or any of such related matters. The provisions of this Section shall survive Close of Escrow. Buyer acknowledges that prior to the Effective Date Buyer and its Authorized Representatives have (a)had an opportunity to physically inspect the Property and conduct any studies and/or testing required by Buyer, and (b)reviewed to their satisfaction the Environmental Reports listed on Exhibit F. "Hazardous Substances" shall mean any toxic or hazardous wastes, asbestos, PCBs, petroleum products and byproducts, substances defined or listed as "hazardous substances" or "toxic substances" or similarly identified in or pursuant to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §9601 et seq.; hazardous materials identified in or pursuant to the Hazardous Materials Transportation Act, 49 U. S.C. §1802 et seq.; hazardous wastes identified in or pursuant to the Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq.; any chemical, substance or mixture regulated under the Toxic Substance Control Act of 1976, 15 U.S.C. §2601 et seq.; any "toxic pollutant"under the Clean Water Act, 33 U.S.C. §466 et seq.; any hazardous air pollutant under the Clean Air Act, 42 U.S.C. §7401 et seq., each as hereafter amended from time to time; and any other substance or pollutant which is present at, on or under the Property in a form and quantity which is regulated 000299.0044\839978.8 6